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Bank Deposits and Lending in January 2018

Michael Khromov – Head of Department for Financial Studies of the Gaidar Institute; Senior Research fellow of the Center of Structural Research, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In January 2018, households’ savings contracted against debt growth on bank loans, which is very unusual for the first month of the year. Consumption indexes – retail trade turnover and spending on paid services – continued growing. The households strive to maintain acceptable standard of living by mobilizing all available financial possibilities.

Key words: Russian banking sector, bank deposits, retail lending.